The Economist Continental Europe Edition

The Economist Continental Europe Edition July 11, 2020

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The Economist is the premier source for the analysis of world business and current affairs, providing authoritative insight and opinion on international news, world politics, business, finance, science and technology, as well as overviews of cultural trends and regular Special reports on industries and countries.

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The Economist Newspaper Limited - Europe
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1 min.
coronavirus briefs

The WHO admitted that the risks from airborne transmission of covid-19 may be higher than it had thought. A senior health official resigned in Israel as the number of new daily cases passed 1,000. The head of a panel of advisers said the government had “lost control” of the virus. India passed Russia to record the third-highest cumulative number of coronavirus infections. A recent increase in testing capacity may help authorities get a better picture of the progress of the disease. Melbourne, Australia’s second-biggest city, went back into lockdown. The border between the states of Victoria and New South Wales was closed. There were riots outside Serbia’s National Assembly when lockdowns were reimposed and the government threatened a curfew. For our latest coverage of the virus and its consequences please visit economist.com/ coronavirus or download…

7 min.
the world this week

Politics Brazil’s president, Jair Bolsonaro, who has downplayed the threat of covid-19, flouted social-distancing guidelines and said that his “athletic history” would protect him, tested positive for the coronavirus. Luis Abinader, a businessman from the centre-left Modern Revolutionary Party, won the Dominican Republic’s presidential election. His victory ends 16 years of rule by the Dominican Liberation Party. The vote, originally scheduled for May, was delayed because of covid-19. Fabián Gutiérrez, who was a secretary to Cristina Fernández de Kirchner, Argentina’s president from 2007 to 2015 and now its vice-president, was murdered. Mr Gutiérrez had agreed to co-operate with the prosecution in the “notebooks” scandal, centred on bags of cash delivered to officials during Ms Fernández’s presidency, and to her home. She denies wrongdoing. Mr Gutiérrez’s murder is not thought to be politically motivated. A…

6 min.
the new ideology of race

AMERICA’S PROBLEM with racism can be divided into two parts. One contains all the myriad injustices that still blight African-American lives a century and a half after the end of slavery. The other is the way that factions on the right exploit racial division as a political tool. An example of the first occurred on May 25th on a shabby street corner in Minneapolis, when George Floyd was killed by a white policeman. An example of the second occurred on July 3rd, at Mount Rushmore, against the monumental backdrop of the country’s greatest presidents, when Donald Trump sought to inflame a culture war centred on race to boost his chances of a second term. To be successful, a campaign for racial justice needs to deal with both. Leaders like Frederick Douglass…

4 min.
tapering without the tantrum

AS THEY FIRST battled the pandemic with lockdowns earlier this year, governments in the rich world pumped cash into the economy almost indiscriminately. Output was collapsing and the speed and scale of support rightly trumped any worries about its cost, accuracy or side-effects. Now lockdowns are easing, there are tentative signs of economic recovery (even in places where covid-19 is still raging) and political debate has shifted to whether, when, and how far to pare back these dauntingly expensive emergency fiscal policies. America’s unemployment top-up scheme expires on July 31st, Britain’s furlough scheme at the end of October. What should governments do? They should start by acknowledging that the largesse worked. Massive fiscal support has proved remarkably effective. Nothing could have prevented a sudden stop in activity as lockdowns were imposed.…

3 min.
a better way to contain iran

MUCH MYSTERY still surrounds the fire that broke out at an important nuclear facility in Iran on July 2nd. Some of the region’s spooks say the blaze was the result of a cyber-attack. Others insist it was a bomb. Suspicion has fallen on Israel and America, which have a history of sabotaging Iran’s nuclear programme. Other episodes have raised eyebrows in recent months—explosions at power plants and near military sites, a gas leak at a chemical plant. Some of these may also have been the work of saboteurs (see Middle East & Africa section). It is safe to say that America and Israel are pleased by the outcome: Iran says that the latest incident caused “significant damage”. But what looks like a tactical success is actually evidence of strategic failure. Iran’s…

4 min.
techtonic plates

OVER THE past few years countless predictions have been made that the global technology industry will suffer a painful rupture because of tensions between America and China. Real damage has been surprisingly hard to spot. Last year Apple made over $100m of sales a day in China, while Huawei reported record revenues despite America’s campaign to cripple it. Investors have piled into tech companies’ shares, buoyed by the prospect of new technologies such as 5G and a pandemic that is forcing billions of customers to spend more time and money online. Judged by sales, profits and shareholder returns, it has been a golden era for American and Chinese tech. The industry now has a colossal market capitalisation of $20trn and accounts for a quarter of the world’s stockmarket value. Yet if…